special partner

special partner
noun
: a partner who may share in the profits of a general partnership registered under law, who contributes property to the capital thereof but must not exercise control over or be active in partnership affairs, and whose liability for partnership debts providing certain rules of law are observed is limited to his capital and interest in the firm assets — called also limited partner; distinguished from general partner

* * *

a partner whose liability for the firm's debts is limited to the amount that partner has invested in the firm. Also called limited partner. Cf. general partner.
[1820-30, Amer.]

* * *

special partner,
a partner who invests a certain amount in a business a whose liability is no greater than the amount of his investment.

Useful english dictionary. 2012.

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Look at other dictionaries:

  • Special partner — Special Spe cial, a. [L. specialis, fr. species a particular sort, kind, or quality: cf. F. sp[ e]cial. See {Species}, and cf. {Especial}.] 1. Of or pertaining to a species; constituting a species or sort. [1913 Webster] A special is called by… …   The Collaborative International Dictionary of English

  • special partner — a partner whose liability for the firm s debts is limited to the amount that partner has invested in the firm. Also called limited partner. Cf. general partner. [1820 30, Amer.] * * * …   Universalium

  • special partner — A partner in a limited partnership protected against general liability for the firm debts. 40 Am J1st Partn § 511 …   Ballentine's law dictionary

  • Special — Spe cial, a. [L. specialis, fr. species a particular sort, kind, or quality: cf. F. sp[ e]cial. See {Species}, and cf. {Especial}.] 1. Of or pertaining to a species; constituting a species or sort. [1913 Webster] A special is called by the… …   The Collaborative International Dictionary of English

  • Special administration — Special Spe cial, a. [L. specialis, fr. species a particular sort, kind, or quality: cf. F. sp[ e]cial. See {Species}, and cf. {Especial}.] 1. Of or pertaining to a species; constituting a species or sort. [1913 Webster] A special is called by… …   The Collaborative International Dictionary of English

  • Special agency — Special Spe cial, a. [L. specialis, fr. species a particular sort, kind, or quality: cf. F. sp[ e]cial. See {Species}, and cf. {Especial}.] 1. Of or pertaining to a species; constituting a species or sort. [1913 Webster] A special is called by… …   The Collaborative International Dictionary of English

  • Special bail — Special Spe cial, a. [L. specialis, fr. species a particular sort, kind, or quality: cf. F. sp[ e]cial. See {Species}, and cf. {Especial}.] 1. Of or pertaining to a species; constituting a species or sort. [1913 Webster] A special is called by… …   The Collaborative International Dictionary of English

  • Special constable — Special Spe cial, a. [L. specialis, fr. species a particular sort, kind, or quality: cf. F. sp[ e]cial. See {Species}, and cf. {Especial}.] 1. Of or pertaining to a species; constituting a species or sort. [1913 Webster] A special is called by… …   The Collaborative International Dictionary of English

  • Special damage — Special Spe cial, a. [L. specialis, fr. species a particular sort, kind, or quality: cf. F. sp[ e]cial. See {Species}, and cf. {Especial}.] 1. Of or pertaining to a species; constituting a species or sort. [1913 Webster] A special is called by… …   The Collaborative International Dictionary of English

  • Special demurrer — Special Spe cial, a. [L. specialis, fr. species a particular sort, kind, or quality: cf. F. sp[ e]cial. See {Species}, and cf. {Especial}.] 1. Of or pertaining to a species; constituting a species or sort. [1913 Webster] A special is called by… …   The Collaborative International Dictionary of English

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